Lennar Surges After Blowout Quarter Defies Rate, Commodity Fears

July 11, 2018
Lily Katz & Prashant Gopal - Bloomberg

Shares of Lennar Corp. are rallying after the homebuilder reported results that blew past expectations in the firm’s first full quarter since completing its $5.7 billion acquisition of CalAtlantic Group Inc.

Second-quarter revenue and earnings per share both topped the highest expectations, and new home orders surged 62 percent from a year ago, compared with the 55 percent average estimate among three analysts surveyed by Bloomberg.

Reprinted courtesy of Lily Katz, Bloomberg and Proshant Gopal, Bloomberg



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